StockNews.com Begins Coverage on GlycoMimetics (NASDAQ:GLYC)

StockNews.com assumed coverage on shares of GlycoMimetics (NASDAQ:GLYC) in a report released on Thursday morning. The firm issued a sell rating on the biotechnology company’s stock.

Separately, TD Cowen lowered shares of GlycoMimetics from a “buy” rating to a “hold” rating in a research note on Friday, July 26th.

GlycoMimetics Stock Up 4.2 %

NASDAQ:GLYC opened at $0.42 on Thursday. The company has a 50 day moving average price of $0.23 and a 200-day moving average price of $0.28. GlycoMimetics has a 1-year low of $0.14 and a 1-year high of $3.53.

Institutional Investors Weigh In On GlycoMimetics

A number of institutional investors have recently added to or reduced their stakes in GLYC. Renaissance Technologies LLC raised its position in GlycoMimetics by 483.5% during the second quarter. Renaissance Technologies LLC now owns 826,851 shares of the biotechnology company’s stock worth $233,000 after acquiring an additional 685,151 shares during the period. Acadian Asset Management LLC increased its stake in shares of GlycoMimetics by 61.8% during the second quarter. Acadian Asset Management LLC now owns 534,753 shares of the biotechnology company’s stock worth $150,000 after purchasing an additional 204,227 shares in the last quarter. Finally, Vanguard Group Inc. raised its position in shares of GlycoMimetics by 14.0% during the 1st quarter. Vanguard Group Inc. now owns 2,761,981 shares of the biotechnology company’s stock worth $8,286,000 after purchasing an additional 340,112 shares during the last quarter. Institutional investors and hedge funds own 75.19% of the company’s stock.

GlycoMimetics Company Profile

GlycoMimetics, Inc, a biotechnology company, focuses on the discovery and development of therapies for cancers and inflammatory diseases in the United States. It develops uproleselan, an E-selectin antagonist, which is used in combination with chemotherapy to treat acute myeloid leukemia (AML), as well as completed phase 3 trial to treat relapsed/refractory AML.